Serebryakova T.Yu.Cheboksary Institute of Cooperation, Branch of Russian University of Cooperation, Cheboksary, Chuvash Republic, Russian Federation tserebryakova@rucoop.ru
Subject The article considers the existing concepts of risk management and its linkage and interaction with the internal control. Objectives The article aims to develop approaches to organization of accounting and analysis of risks, determine the position of risk management in the system of management and control. Methods For the study, I used scientific methods of cognition: a systems approach, logical generalization, analysis, synthesis, and hypothesis. Results Assessment of the available methods of risk management and internal controls (COSO, FERMA, ISO, etc.) shows that the COSO models of internal control and risk management, focused on process risk management and control, describe them most consistently. At the same time, they do not completely take into account the priority of internal control in relation to the risks. There are contradictions in the documents on the question of priority of risk and control. All this can enter into a discussion. Conclusions and Relevance The study leads to the conclusion of the internal control priority over risk, as a process that is an integral part of management. I propose the idea of risk management belonging to control process only, within which it exists. As well, I conclude that it would be pointless to consider risk management as an independent management system. This conclusion allows considering risks within each of the management process at the level of the head of the process.
Keywords: risks, process, standards, accounting, analysis, control
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